The term "classical economics" was first used by _______ to refer to economic literature developed in the _______.
A) Paul Samuelson; 19th and early 20th centuries.
B) Adam Smith; 16th and 17th centuries.
C) Keynes; 18th and 19th centuries.
D) David Ricardo; 17th and 18th centuries.

Question

Quizplus · Accepted Answer

The term "classical economics" was first used by John Maynard Keynes to refer to economic literature developed in the 18th and 19th centuries. Adam Smith is considered the founder of classical economics, but the term was not used during his time. David Ricardo was a prominent classical economist, but he lived in the late 18th and early 19th centuries. Paul Samuelson, on the other hand, is a neoclassical economist who lived in the 20th century.

The Term "Classical Economics" Was First Used by _______ to Refer